Neuburgh Advisers LLC lowered its holdings in shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) by 13.4% during the fourth quarter, HoldingsChannel reports. The firm owned 9,218 shares of the technology company’s stock after selling 1,430 shares during the period. Neuburgh Advisers LLC’s holdings in SS&C Technologies were worth $416,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Prime Capital Investment Advisors LLC purchased a new position in SS&C Technologies during the fourth quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new position in shares of SS&C Technologies in the fourth quarter valued at approximately $36,000. CWM LLC lifted its position in shares of SS&C Technologies by 115.6% in the fourth quarter. CWM LLC now owns 873 shares of the technology company’s stock valued at $39,000 after acquiring an additional 468 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of SS&C Technologies in the fourth quarter valued at approximately $49,000. Finally, Csenge Advisory Group purchased a new position in shares of SS&C Technologies in the third quarter valued at approximately $81,000. Institutional investors own 83.47% of the company’s stock.
In related news, CFO Patrick J. Pedonti sold 157,500 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $59.41, for a total value of $9,357,075.00. Following the completion of the sale, the chief financial officer now owns 57,500 shares of the company’s stock, valued at $3,416,075. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.50% of the stock is currently owned by company insiders.
SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, February 14th. The technology company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.85 by $0.10. SS&C Technologies had a return on equity of 16.27% and a net margin of 3.01%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was up 157.8% on a year-over-year basis. As a group, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 3.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, February 28th. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.08. SS&C Technologies’s dividend payout ratio (DPR) is currently 15.27%.
Several research firms have recently weighed in on SSNC. Raymond James decreased their target price on SS&C Technologies from $68.00 to $67.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 2nd. Zacks Investment Research downgraded SS&C Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, February 16th. UBS Group decreased their target price on SS&C Technologies from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, January 8th. Royal Bank of Canada raised their target price on SS&C Technologies to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $75.00 target price (up previously from $70.00) on shares of SS&C Technologies in a research report on Friday, February 15th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and four have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.27.
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SS&C Technologies Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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